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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.

This Week’s Edition of KBR:

June 2024 Poll

With the June 17 proprietorship filing deadline approaching, do you believe advice about incorporation will change in light of the June 25 capital gains inclusion rates changes?
Yes: 26 votes
No: 37 votes

Cast Your Vote

Real Wealth Management™: Collaborative, Future-Oriented Financial Planning

The RWM can make a huge difference in how you grow your future business and influence the wealth accumulation, growth, preservation and transition your clients are making decisions about.   We invite you to take a few minutes now to watch the Meeting of the Minds session with Alan Rowell,  RWM™, MFA™, DFA-Tax Services Specialist™, FDFS™ who provides his “Why” –  the evolution of the difference it made for his firm, the valuation of his company and the culture that prevailed for his dynamic employees. Plus, take advantage of a special offer: save 15% when you enrol in the RWM™ Program with code RWM15.  Offer ends June 30.

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Capital Gains Inclusion Rules Tabled June 10, 2024

A detailed Notice of Ways and Means Motion (NWMM) outlining important changes to the Canadian tax system were introduced in the two weeks before the existing rules on capital gains inclusion end on June 24, 2024. The capital gains inclusion rate will be raised to 66 23% for corporations and trusts, as well as individuals with capital gains over $250,000, on or after June 25, 2024 if this NWMM passes into law.  The complexity it brings to tax filing in 2024 and future years, is evident in this draft legislation. For even more detail, subscribe to KBR and download our Special Report on Capital Gains Inclusion Rules.

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Employee Stock Options - Post June 24, 2024

In our last article on this subject, current tax rules on ESOPs were covered.  In the absence of proposed legislation that enables the federal government’s proposed increase in the Capital Gains Inclusion Rate (CGIR), recall that it is anticipated that if the individual’s total gains for the year exceed $250,000, two-thirds of gains over the $250,000 threshold would be included in income if they were generated after June 24, 2024.  Here’s a synopsis of the effect of this change on ESOPs to initiate discussions with business owners, key employees and tax advisors:

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Announcement of Distinguished Advisor Award Categories at Acuity 2024!

Knowledge Bureau is delighted to announce its categories of awards to be announced at the Acuity Conference for Distinguished Advisors (DAC) November 10 – 12 in Montreal.  The star-studded ceremony, being held at the exclusive St. James Club, will kick off the three day educational conference – Canada’s only multi-disciplinary conference, featuring 16 thought leaders who will focus on the theme,  Safe Havens: Secure Financial Futures & Wealth Potential.   To be announced at the end of June, the winners will be honored in the following categories:

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Earn New Specialized Credentials in Strategic Philanthropy This Month!

The MFA-P™ has specialized professional credentials to enable high-value planning for individual or family legacies. In this dynamic program, learn to have highly satisfying conversations with clients sooner in your relationship, address their big fears: that gifts will not be used wisely or according to personal passions and wishes. Then, provide a consistent process for giving solutions with investments that are tax-efficient, during lifetime and as part of a personal or family legacy. Become a certified professional in the evolving field of philanthropy. Build trusting relationships with your clients and help them make a difference in the world through charitable giving as an MFA-P and save 15% until June 30 with code MFAP15.

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